2014 Second Quarter Financial & Strategic Update August 1, 2014 Al Monaco President & CEO J. Richard Bird Executive Vice President, CFO and Corporate Development John Whelen Senior Vice President, Finance
Q2 2014 Financial & Strategic Update Presenters: Al Monaco President & CEO John Whelen Senior Vice President, Finance Question & Answer Period 2
Legal Notice This presentation includes certain forward looking information (FLI) to provide Enbridge shareholders and potential investors with information about Enbridge and managements assessment of its future plans and operations,…
Q2 2014 Financial Results (MM) 794 820 306 328 Q2 Q2 488 Q1 492 Q1 2013 2014 Year-To-Date EPS: 1.00 1.00 1.84 2.04 2014 EPS Guidance: * Adjusted earnings and adjusted EPS are non-GAAP measures. For more information…
EGD Custom Incentive Rate Approval 5-Year term (2014-2019) ROE set annually 9.36% in 2014 Capital spending program approved average 570 million/yr. 50/50 sharing up to 300 bps above allowed ROE Consistent with EPS growth…
Line 3 Replacement Update Capital cost estimate finalized Cdn 4.9 billion US 2.6 billion Surcharge: U.S. 0.895/bbl Low double-digit equity return Expected in-service: 2nd half of 2017 7
U.S. Sponsored Vehicles Re-establish EEP as a strong First post-IPO drop down sponsored vehicle 12.6% interest in EEPs G&P Preferred Share Purchase business (U.S.350 Million) Joint Funding 4% distribution increase Receivables…
Northern Gateway Project Regulatory phase compete Focus over next 12+ months: - Satisfy 209 JRP conditions and work with B.C. on 5 conditions for oil pipelines - Continue to engage with communities and First Nations - Finalize cost…
Segmented Earnings* Variance Millions Q2 2014 vs. SEGMENT Q2 2013 Liquids Pipelines +61 Gas Distribution -10 Gas Pipelines, Processing and Energy Services -46 Sponsored Investments +25 Corporate -8 TOTAL +22 * Adjusted…
Record Mainline Throughput Record ex-Gretna volumes Quarterly Ex-Gretna Throughput MMbpd delivered 2.5 - 2.1 million bpd in June Strong Fundamentals 2.0 - Increasing production - Strong PADD II demand 1.5 (BP Whiting) Capacity…
Full Year 2014 EPS Guidance Outlook Headwinds Energy Services Equity Prefunding 2.04 1.84 Tailwinds Liquids Pipelines Guidance Range * Adjusted earnings are non-GAAP measures. For more information on non-GAAP measures…
Enterprise Wide Funding and Liquidity Actions FUNDING SOURCES* 2014 ( Billions) ENB Preferred Shares 1.1 ENB DRIP 0.2 Medium Term Notes 3.3 Bank Credit Facility Additions 0.4 ENB Common Equity Issuance 0.5 EEQ PIK 0.1 TOTAL…
2013 2017 Funding Requirements Excluding Sponsored Investments ( billions, as at July 2014) Maintenance Capital 5.6 Secured Growth Capital 28.0 Risked Growth Capital 3.2 36.8 Cash Flow Net of Dividends (14.6) Net Funding…
Cost of Equity Optimization & Flexibility 2013 2017 Remaining Requirement 2.0 Billion: Billions Preferred Shares 1.3 Asset Monetization/Sponsored Vehicle Drop Downs 3.0 TOTAL 4.3 ENB Public Equity 15
Enterprise Wide Growth Capital In-service 2014 9.9 Billion In-Service in 2014 Fort McMurray Edmonton Hardisty Kerrobert Regina Estimated Cost Cromer +270 Projects Gretna kbpd ( Billion) Montreal Liquids Pipelines (Alberta…
Industry Leading EPS & DPS Outlook 42 Billion Enterprise Wide Capital Program An Industry Leading EPS* An Industry Leading DPS Growth Outlook (but lumpy) Growth Outlook (smoother) EPS Growth Tilted Return Projects Surplus…
Summary Strong first half results On track to be within full year EPS guidance range of 1.84 - 2.04 Project execution going well On pace for 10-12% EPS growth through 2017 19
2014 Second Quarter Financial & Strategic Update August 1, 2014 Q&A
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